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2017 National Mutual Economy Report Incorporating the Top 100 2 | 2017 National Mutual Economy Report | 2017 Report Partner 2017 NATIONAL MUTUAL ECONOMY REPORT Incorporating the Top 100 2 | 2017 NATIONAL MUTUAL ECONOMY REPORT | 2017 Report Partner 3 | 2017 NATIONAL MUTUAL ECONOMY REPORT | 2017 National Mutual Economy Report Incorporating the Top 100 Providing the latest research on the economic and social contribution of Australia’s co-operative, mutual and member-owned firms. With the research collaboration of the University of Western Australia For more information on the co-operative and mutual sector i www.bccm.coop www.getmutual.coop Published November 2017 by the Business Council of Co-operatives and Mutuals (BCCM) | GPO Box 5166, Wynyard, Sydney 2001 | www.bccm.coop © Business Council of Co-operatives and Mutuals (BCCM) This work is licensed under the Creative Commons Attribution 3.0 Australia Licence (CCBY 3.0). This licence allows you to copy, distribute and adapt this work, provided you attribute the work and do not suggest that BCCM endorses you or your work. To view a full copy of the terms of this licence, visit: http://www.creativecommons.org/licenses/by/3.0/au/ Disclaimer: While the BCCM endeavours to ensure the quality of this publication, the BCCM does not accept any responsibility for the accuracy, completeness or currency of the material included in this publication, and will not be liable for any loss or damage arising out of any use of, or reliance on, this publication. 4 | 2017 NATIONAL MUTUAL ECONOMY REPORT | ABOUT THE BCCM Despite representing some of the largest businesses The Business Council of Co-operatives and Mutuals in their sectors and being found across a wide- (BCCM) is the national peak body representing range of industries, the overall size, structure co-operative and mutual models of enterprise. It is and contribution of the CME sector in Australia the only organisation uniting the entire and diverse is relatively poorly understood. This is due to a range of member-owned businesses in Australia. paucity of reliable data, difficulties in definition and vagueness over which firms should be identified as Formed in 2013, the BCCM brings together the sector CMEs. of businesses owned by members or formed to benefit members, with the common objective of For this year’s report on the ACMEI, see Mazzarol, T. increasing awareness of these models of enterprise. & Kresling, J. (2017), Australia’s Leading Co-operative and Mutual Enterprises in 2017, CEMI Discussion Through our members, the Council highlights the Paper Series, DP 1701, Centre for Entrepreneurial contribution co-operatives and mutuals make to Management and Innovation. the national economy and social development in Australia. The BCCM provides leadership in the All financial statistics presented in this report are important areas of research, education and advocacy in AU dollars unless otherwise indicated. to build a strong sector. ACKNOWLEDGEMENTS ABOUT THE REPORT 2017 National Mutual Economy Report (NME 2017) was This is the fourth annual report on the scale and produced thanks to sponsorship by HCF, research by performance of the Australian co-operative and the University of Western Australia and the input of a mutual sector. The report aims to map the size, number of CMEs and other researchers. composition and overall health of the co-operative From the University of Western Australia we’d like to and mutual sector using the Australian Co-operative thank Professor Tim Mazzarol, Dr Elena Limnios and and Mutual Enterprise Index (ACMEI), which started Johannes Kresling. in 2012 with the first national data collection For their work on this year’s NME we would also like process in 2014. to acknowledge Chris Mason, Next Level Research; The ACMEI is a long term research project undertaken Tony Connon; and Duncan Wallace. by the University of Western Australia to map the We thank Professor Morris Altman, Dean and Head of size and structure of the co-operative and mutual University of Newcastle Business School, for his work enterprise (CME) sector in Australia. Its purpose is to using economic modelling to provide our Total Value provide a better understanding of these businesses Added and employment statistics. and their contribution to the national economy. 5 | 2017 NATIONAL MUTUAL ECONOMY REPORT | EXECUTIVE SUMMARY This is the fourth annual National Mutual Economy CMEs directly employ over 146,000 people, and are Report produced by the BCCM with the research important anchor institutions. The 2,135+ CMEs in collaboration of the University of Western Australia. Australia provide core business support to over 174,000 businesses, mostly small and medium This year’s report is an example of the successful enterprises. In many cases businesses are dependent co-operative research effort undertaken by BCCM on the services provided by their CME for their and various stakeholders to accurately measure the viability. Co-operative and Mutual Enterprise (CME) sector. NME 2017 was produced thanks to sponsorship by HCF Nevertheless, the CME sector remains the ‘ninja’ and the important collaboration of Australia’s co- economy, hiding in plain sight. operative and mutual enterprises. While 85% of Australian adults are members of at The current economy is not working for many people. least one CME, the majority don’t know they are - a Financial stress is on the rise with less than a third of recent BCCM poll found that only 12% of Australians Australian adults financially secure in 2016 – a result know they are a member of a co-operative or mutual. of a doubling in household debt since 2003, in the This is despite CMEs playing an important role in main due to rising house prices. Social isolation is a mainstream Australian life. Over four million people growing concern, with 80% of Australians believing watched this year’s AFL Grand Final, perhaps without that loneliness is increasing. The mainstream realising that the majority of AFL clubs are owned business model is not helping. According to 82% of and run by their supporters, who are their members. Australian adults, corporations are too focused on profits, with 78% agreeing corporations put investor CMEs have an impact beyond merely financial interests before customer welfare. impact. How to measure that impact is something the CME sector is in the process of answering – how It’s time to reimagine the economy. do we adapt accounting methods to better show the The CME sector presents solutions. Member rather shared value CMEs create? In chapter 5 we show the than investor ownership, means members are put extensive member value CMEs create through the first, with long-term value for members maximised, case studies of the National Health Co-operative and rather than short-term profits for investors. Member the Rumbalara Aboriginal Co-operative. We thank control also means profits stay within the local these co-operatives for their time and insights. community, rather than leaking out. As this report shows, the CME sector is tried and tested. The total value added of the CME sector is $140 billion - 8.3% of GDP - and CME assets have Melina Morrison grown by 10.5% over a five-year period, with Chief Executive Officer turnover growing at 6.6%. Business Council of Co-operatives and Mutuals 6 | 2017 NATIONAL MUTUAL ECONOMY REPORT | TaBLE OF CONTENTS CHAPTER 1 REIMAGINE THE ECONOMY Why Reimagine the Economy? 10 Explaining the Member Owned Difference 11 An Economy Undermined by Financial Stress, Social Exclusion and Corporate Failings 13 CMEs are Tackling Financial Stress 14 CMEs are Building Regional Economies 15 CMEs are Preparing for an Aging Australia 16 CMEs are Tackling Social Isolation and Inclusion 17 CHAPTER 2 SECTOR SNAPSHOT 32 The Contribution of the CME Sector 20 Gross Revenue by Industry 22 Australia’s Top 100 CMEs in 2015-2016 23 The Financial Performance of the Top 100 CMEs 27 The Long Term Financial Performance of Member-Owned Superannuation Funds 28 Aboriginal and Torres Strait Islander CMEs 29 CHAPTER 3 MEASURING THE VaLUE OF CMES 32 Investing in the Community 33 Enterprise Co-operatives: Accessible Aggregation for Australian Businesses 34 CHAPTER 4 FOOTBALL IN FOCUS 32 Football in Focus – Co-operatives by Another Name 38 What Does Membership Mean in the AFL? 40 CHAPTER 5 CASE STUDIES - PRIMARY HEALTHCARE IN THE SPOTLIGHT 32 1. National Health Co-operative: Challenging the Status Quo 44 2. Rumbalara Aboriginal Cooperative: The Heart of the Community 49 CHAPTER 6 THE CHALLENGES IN RESEARCHING CMES 32 The Co-operative Research Challenge 58 How Many CMEs are There? The Statistical Challenge 60 What Value do CMEs Create? The Impact Challenge 62 Sector Initiatives to Tackle the Co-operative Research Challenge 63 CHAPTER 7 TaBLES AND DaTA 32 7 | 2017 NATIONAL MUTUAL ECONOMY REPORT | CHAPTER 1 REIMAGINE THE ECONOMY FINANCIAL STRESS IS ON THE RISE With average household debt almost doubling since 2003-04 and income remaining stagnant since 2007. LONELINESS AND ISOLATION ARE WIDESPREAD Due to a breakdown of community connectedness and well-being. ONE SOLUTION IS THE MEMBER-OWNED BUSINESS MODEL The model offers member centred returns, long term thinking, and a community focus. Supporting member control means supporting community. THE MODEL IS PROVEN With Australia’s co-operative and mutual enterprises (CMEs) already helping over 8 in 10 Australians, and driving 8% of the economy. WHY REIMAGINE THE ECONOMY? The 2016 Census showed us Australia is undergoing Despite uninterrupted annual increases in GDP, significant change, with fundamental shifts in how Australian households are increasingly vulnerable to we live and work. This presents challenges for our economic shocks as housing is less affordable and society. The past decade has shown that economic wages stagnate. Building a more equitable Australia growth alone cannot deliver a wealthier and will require reimagining the economy, thinking healthier Australia. beyond business as usual. “We should learn from co-ops. If we do, we can reshape our economy, reshape globalisation and who we and our children are.
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